CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, is investigating potential naked short selling of its stock. As part of that process, the company has retained Shareholder Intelligence Services LLC (ShareIntel), a well-known analytics firm. ShareIntel will be evaluating trading patterns of CNSP stock as part of the investigation. “While we are pleased to see the significant price appreciation in our stock as well as an increased high volume of trading activities, our shareholders have expressed concerns that our stock may be a target for illegal naked short selling,” said CNS Pharmaceuticals CEO John Climaco in the press release. “I personally want our loyal shareholders, who have, for years, supported our efforts to develop a novel treatment for glioblastoma, to know that we have heard them. We have zero tolerance for illegal naked short selling and any other manipulation of our stock. We now have in place the tools to analyze the situation thoroughly and will not hesitate to act in the best interest of our shareholders should we uncover any illegal or otherwise prohibited trading activity.”
To view the full press release, visit https://ibn.fm/nk0xe
About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. The company’s lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including glioblastoma multiforme, an aggressive and incurable form of brain cancer. For more information about the company, please visit www.CNSPharma.com
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://ibn.fm/CNSP
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